After recent moves, Towergate Health & Protection has renamed to Towergate Employee Benefits.
As a whole-of-market adviser, with over 15,000 clients, Towergate Employee Benefits is one of the UK’s largest employee benefits advisers, and the new identity is a natural evolution, reflecting its newly expanded capabilities.
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This is the next step in the company’s strategic growth, which will be followed by further development of its client propositions and investment in new hires to support the expansion.
Iain Laws, CEO of Towergate Employee Benefits, said: “These are exciting times, we’ve built strong foundations looking after our clients by offering award-winning service across our propositions through our talented team. We’re looking forward to expanding the value we can create for both our current and future clients across an even broader range of services to benefit employers and their people.”
This move follows the Towergate acquisition of Benefiz.
Benefiz was established to aid smaller employers offer benefits that are normally the reserve of larger firms.
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By GlobalDataIn addition, its team review, design, source and implement a wide range of benefits managed online via one of their flex platforms.
Benefiz will operate as part of whole-of-market adviser Towergate Health & Protection. Having built a strong reputation in the health and protection market, this acquisition will enable Towergate to widen its range of services to include pensions benefits support.
In related M&A news, US insurance brokerage Bowen, Miclette & Britt Insurance Agency (BMB) has announced the acquisition of M Surety Services, bolstering its presence in the contract surety bond market.
The financial terms of the transaction were not disclosed.
Founded in 2018, M Surety Services is engaged in offering contract surety bonds, which are said to enable contractors to secure the highest bond capacity at the most competitive rates.
A surety bond serves as a risk transfer tool, where an insurer guarantees the beneficiary that the contractor will fulfil their contractual duties, with monetary compensation provided in case of non-compliance.
